Home Blockchain Consensys and Protocol Labs Join Forces to Empower Blockchain Startups

Consensys and Protocol Labs Join Forces to Empower Blockchain Startups

by Abigail Bautista

Consensys and Protocol Labs Partner to Propel Blockchain Startups

In an effort to strengthen the blockchain startup ecosystem, Consensys, a prominent blockchain company, has announced a groundbreaking partnership with Protocol Labs. This collaboration, part of Consensys Scale, aims to provide unwavering support to emerging blockchain ventures and startups. By joining forces with Protocol Labs, which has a wealth of experience in nurturing founders and securing external capital, Consensys hopes to play a pivotal role in catalyzing the growth of these innovative enterprises.

Consensys Scale, introduced in 2022, acts as a lifeline for ten well-funded projects every quarter. Participants in this program gain access to vital developer tools such as MetaMask Snaps, APIs for various blockchain networks, technical guidance, co-marketing opportunities, workshops, and avenues for funding. The goal is to provide a comprehensive support system for blockchain ventures, positioning them for success in the industry.

Protocol Labs brings its proven expertise to the table, with a track record of incubating startups and raising over $1 billion in external capital. Their early investment in Consensys underscores their commitment to fostering innovation within the blockchain space. Protocol Labs has previously supported accelerator initiatives within the Ethereum ecosystem, including Consensys Mesh and TachyonX.

The Consensys Scale program spans a generous 24-month period, catering to decentralized applications (dapps) and blockchain companies situated between the Seed and Series A funding stages. Participants are expected to have a fully functional team, secure institutional funding, and establish an initial product-market fit.

One notable aspect of this collaboration is the opportunity for participating teams to integrate Filecoin and IPFS into their projects. These components serve as the foundation of web3 infrastructure, playing a vital role in shaping the future of decentralized technologies. Additionally, teams can leverage solutions like NFT.Storage Pro and Web3.Storage Pro to enhance their capabilities.

A success story emerging from the Consensys Scale program is Blockfence, a proactive risk and threat mapping startup. Blockfence, part of the program since November 2022, has achieved a significant milestone by creating one of the first approved MetaMask Snaps. This innovation enhances transaction security for over 100 million MetaMask users. Blockfence has also selected Infura as its node provider and plans to deploy Linea as its preferred Layer 2 (L2) solution, solidifying its position as a trailblazing blockchain venture.

In conclusion, the strategic partnership between Consensys and Protocol Labs represents a formidable alliance aimed at fortifying the foundation of blockchain startups. By providing access to critical resources, technical expertise, and funding opportunities, this collaboration serves as a catalyst for growth and success in the dynamic blockchain ecosystem. As the digital landscape continues to evolve, the Consensys Scale program, backed by Protocol Labs’ support, empowers a new generation of blockchain pioneers.

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